Growth & Changing Trends in Ultra Luxury Apartments in Bangalore

Bangalore has witnessed significant transformations in its real estate landscape over the past few decades. Among the various segments, ultra-luxury apartments (priced >5Cr) have seen remarkable growth and evolution, catering to the discerning aspirations of High-Net-Worth Individuals (HNIs) and Ultra-High Net Worth Individuals (UHNIs) including celebrities, businessmen, CXOs, actors, sports personalities and expatriates. With the population of native CXOs and expats in the city increasing every day, there is a huge demand for luxury living solutions. Here are some of the key changing trends observed in Bangalore Ultra Luxury Residential Market.

• 1. Increasing Demand
  • Rising Affluence: Bangalore's growth as a tech and startup hub has led to a significant increase in the number of Ultra High Net Worth Individuals (Ultra HNIs) and High Net Worth Individuals (HNIs). The number of Ultra HNIs and HNIs is projected to grow by 25-30% over the next five years, boosting the demand for high-end living spaces.
  • Post-Pandemic Preferences: The COVID-19 pandemic has shifted homebuyers' preferences toward larger, more luxurious homes that offer comfort and advanced amenities. There has been a marked increase in demand for properties that provide safety, comfort, luxury, and flexible approaches to work that allow employees to work remotely.
  • Investment Opportunity: Ultra-luxury apartments are increasingly seen as a stable and appreciating asset, attracting both domestic and international investors.
• 2. Increasing Market Share
  • Expansion of Premium Offerings: Developers are increasingly focusing on ultra-luxury projects to meet the rising demand. Currently, the market share of ultra-luxury apartment units has grown 2.5 times since 2019. As of now, Bangalore has over 8,600 ultra-luxury units priced above ₹5 crore each, with approximately 60% of them being apartments.
  • Shift Towards Branded Residences: There is a growing trend of branded residences where real estate developers collaborate with luxury brands or hospitality chains. These projects combine high-end living with brand prestige, further expanding the market for ultra-luxury apartments in the city.
• 3. Preferred Locations: Established vs. Emerging
  • Established Areas: Traditional luxury hubs like Koramangala, Indiranagar, MG Road, Lavelle Road and Sadashiv Nagar continue to be in high demand due to their prime location, established infrastructure, and proximity to key commercial and entertainment zones.
  • Emerging Areas: Newer areas like Whitefield, Hebbal, North Bangalore (till Yelahanka), Sarjapur Road and Rajajinagar are preferred locations. These areas offer a mix of modern infrastructure, better connectivity, and new luxury developments. They are becoming attractive to both end-users and investors.
• 4. Preferred Unit Sizes & Typology
  • Larger Units: There is an increasing demand for larger living spaces, including 4 & 5 BHK apartments, penthouses, and duplexes. These units, ranging from 3,500 to 8,000 sq.ft., cater to the desire for more space and privacy among affluent millennials and Gen Z who looks for homes that can be customized to their lifestyle, whether it's home offices, entertainment zones, or wellness areas.
  • Customization: Ultra-luxury buyers are increasingly looking for homes that reflect their personal tastes and lifestyles. In response, developers are offering customization options in unit layouts and interior design, allowing buyers to curate their living spaces to their specific preferences.
• 5. Unit Level Facilities
  • Private Elevators: Many ultra-luxury units offer exclusive access to private elevators that open directly into the apartment, providing added privacy and convenience.
  • Luxury Fittings & Finishes: Apartments in this category feature premium materials, imported fittings, and designer finishes. High-value elements like marble flooring, wooden panelling, and top-tier kitchen appliances are standard. Some developers further enhance the appeal by collaborating with international award-winning interior designers.
  • Smart Homes: Technologically advanced smart homes are increasingly popular among luxury buyers. These homes feature integrated systems for security, lighting, climate control, and entertainment, all of which can be managed from a smartphone or tablet, adding convenience and sophistication to modern living.
• 6. Project Level Amenities

  Ultra-luxury apartments are defined by their comprehensive suite of amenities that go beyond standard offerings:

  • Exclusive Clubhouses: Ultra-luxury projects often include exclusive clubhouses equipped with state-of-the-art gyms, spas, and wellness centres, providing residents with high-end recreational and fitness options.
  • Infinity Pools & Rooftop Gardens: These developments frequently feature infinity pools, rooftop gardens, and sky lounges, offering residents panoramic views of the city and enhancing the luxury experience.
  • Concierge Services: High-end concierge services, valet parking, and 24/7 security are standard. Some projects go a step further by offering additional services like personal chefs, housekeeping, pet care, and chauffeur services, ensuring a lifestyle of ease and comfort.
  • Sustainability: With increasing awareness of environmental issues, many ultra-luxury projects incorporate eco-friendly features such as rainwater harvesting, solar panels, and green building certifications, appealing to environmentally conscious buyers.

• 7. Outlook
  • Continued Growth: With the increasing influx of professionals and rising disposable incomes, increasing standard of living, aspiration, growing interest in smart living, increasing NRI investments - the demand for luxury homes is at an all-time high. As a result, the ultra-luxury apartment market in Bangalore is poised for continued growth, driven by sustained economic growth, technological integration, evolving lifestyles, and global connectivity etc.
  • Innovation & Differentiation: Developers will continue to innovate to differentiate their offerings, focusing on unique architectural designs, themed projects, and incorporating cutting-edge technology.
  • Increased Competition: With more players entering the ultra-luxury segment, competition will intensify, benefiting buyers with more choices and possibly more competitive pricing.
  • Sustainable Luxury: There will be a stronger emphasis on sustainability and green living, as buyers become more environmentally conscious.

In conclusion, the ultra-luxury residential market in Bangalore appears promising. The growing demand, coupled with emerging trends, is actively reshaping the landscape of ultra-luxury residential living in the city. This shift is driven by an increasing preference for premium amenities and exclusive features, which emphasize the opulence and evolving expectations among the affluent buyers.

As the market continues to mature, we can anticipate further innovation in luxury offerings, with developers likely focusing on sustainability, smart home technologies, and bespoke services to cater to the sophisticated tastes of their niche home buyers. This ongoing evolution will likely solidify Bangalore's position as a leading destination for ultra-luxury living in India.